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Voting for Sarbanes-Oxley Reform?

Lora Bentley

No matter how strongly you feel about the issues, we'd venture to guess that you're sick of campaign signs cluttering the landscape and political ads invading your downtime in front of the television. Thankfully, by this time next week it will be almost over.

Before we get there, though, consider this: An analysis posted at Financial News this morning says that the outcome of the elections will determine how or if Sarbanes-Oxley reform happens any time soon.

Financial Services Roundtable CEO Steve Bartlett says politicians from both parties agree that it's time for something to be done about Sarbox, that reform will have to come from Congress, and that it will come by the end of next year.

Others, like Foley & Lardner's Tom Hartman, say the Sarbox debate will lose steam if Democrats win control of either house; reform will be left to the Securities Exchange Commission and the rule changes that Chairman Christopher Cox can push through.

Of course, there are also the efforts of special interest groups formed by the U.S. Chamber of Commerce or by Harvard Law professor Hal Scott. But even their proposals are set to be made public soon after the election, when they will have "greater political impact," according to a Seattle Times story.


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